ContractChange of Control Agreement • May 9th, 2008 • Central Vermont Public Service Corp • Electric services • Vermont
EXHIBIT A 10.5.1 FORM OF CHANGE OF CONTROL AGREEMENT (As Amended May 6, 2008) WHEREAS, _________________, (“Executive”) and Central Vermont Public Service Corporation (“Company”) entered into a Change of Control Agreement dated ____________ (the “Agreement”): WHEREAS, the Agreement is scheduled to expire by its terms on ____________ and Executive and Company have executed a Change in Control Agreement on _________ which agreement will take effect on April 6, 2009, and supersede all prior agreements; WHEREAS, the American Jobs Creation Act of 2004 included new statutory rules under Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”) that substantially altered the income tax treatment of compensation that is regarded, under those rules, as deferred pursuant to a nonqualified deferred compensation plan; WHEREAS, under Section 409A, unless certain limitations on payment and other requirements are provided for in a deferred compensation plan, participants may be s
EXHIBIT A 10.5.2Change in Control Agreement • May 9th, 2008 • Central Vermont Public Service Corp • Electric services • Vermont
FORM OF CHANGE IN CONTROL AGREEMENT THIS CHANGE IN CONTROL AGREEMENT with an effective date of ___________ (this “Agreement”), is made by and between Central Vermont Public Service Corporation (“Company”), and ___________________ (“Executive”). WHEREAS, the Board of Directors of Company (the “Board”) recognizes that the possibility of a Change in Control (as hereinafter defined) of Company exists and that such possibility, and the uncertainty it may cause, may result in the departure or distraction of key management employees of Company or of a Subsidiary (as hereinafter defined) to the detriment of Company and its stockholders; WHEREAS, Executive is a key management employee of Company or of a Subsidiary; WHEREAS, the Board has determined that Company should encourage the continued employment of Executive and the continued dedication of Executive to his assigned duties without distraction as a result of the circumstances arising from the possibility of a Change in Control; WHEREAS, th
